Centerpoint Energy Inc. [NYSE: CNP] loss -0.46% or -0.13 points to close at $28.00 with a heavy trading volume of 4167651 shares. The company report on February 20, 2024 at 6:35 AM that CenterPoint Energy Reports Strong Q4 and Full-year 2023 Results; Increases Capital Investment Plan; Reiterates 2024 Guidance.
Reported Q4 2023 earnings of $0.30 per diluted share and full year 2023 earnings of $1.37 per diluted share on a GAAP basis.
Non-GAAP earnings per diluted share (“non-GAAP EPS”) was $0.32 for Q4 2023 and $1.50 for full year 2023; 9% increase over 2022 full year non-GAAP EPS of $1.38.
The daily chart for CNP points out that the company has recorded -1.06% loss over the past six months.
If we look at the average trading volume of 3.94M shares, CNP reached to a volume of 4167651 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Centerpoint Energy Inc. [CNP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNP shares is $30.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Evercore ISI have made an estimate for Centerpoint Energy Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on January 23, 2024. The new note on the price target was released on October 05, 2023, representing the official price target for Centerpoint Energy Inc. stock. Previously, the target price had yet another raise to $28, while Barclays analysts kept a Underweight rating on CNP stock.
The Average True Range (ATR) for Centerpoint Energy Inc. is set at 0.48, with the Price to Sales ratio for CNP stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 1.83, with the Price to Cash per share for the same quarter was set at 1.03.
Trading performance analysis for CNP stock
Centerpoint Energy Inc. [CNP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.06. With this latest performance, CNP shares gained by 0.90% in over the last four-week period, additionally sinking by -1.06% over the last 6 months – not to mention a drop of -0.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNP stock in for the last two-week period is set at 50.84, with the RSI for the last a single of trading hit 50.36, and the three-weeks RSI is set at 50.44 for Centerpoint Energy Inc. [CNP]. The present Moving Average for the last 50 days of trading for this stock 28.03, while it was recorded at 28.26 for the last single week of trading, and 28.33 for the last 200 days.
Centerpoint Energy Inc. [CNP]: A deeper dive into fundamental analysis
Centerpoint Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.58 and a Current Ratio set at 0.78.
Centerpoint Energy Inc. [CNP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Centerpoint Energy Inc. posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Centerpoint Energy Inc. go to -1.07%.
An analysis of Institutional ownership at Centerpoint Energy Inc. [CNP]
The top three institutional holders of CNP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNP stock with ownership which is approximately 5.8325%.
